Homework Answers
Answer 14: Indonesia exports rice and imports pencils because its comparative advantage is better for rice than for pencils. It is two times more efficient in rice (2:1) while it is only 1.33 times more efficient in production of pencils. (4:3)
Malaysia Imports rice and exports pencils.
Answer 15: Malaysia produces 100.3 = 33.33 units of pencils.
Indonesia produces 75 units of rice 150/2.
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The following table shows the units labor required to produce 1 unit of rice and pencil...
Suppose that: In Malaysia the unit labor requirement (ULR) to produce a pound of rice and a pencil are 1 and 2 hours of...
Suppose that: In Malaysia the unit labor requirement (ULR) to produce a pound of rice and a pencil are 1 and 2 hours of labor respectively; In Indonesia, the unit labor requirement to produce a pound of rice and a pencil are 2 and 3 hours respectively; each country has 10,000 hours of labor to allocate between the production of rice and pencils; and in autarky, Malaysia consumes 5,000 pounds of rice and 2,500 pencils. When trade occurs, the world...
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Suppose that: In Malaysia the unit labor requirement (ULR) to produce a pound of rice and a pencil are 1 and 2 hours of labor respectively; In Indonesia, the unit labor requirement to produce a pound of rice and a pencil are 2 and 3 hours respectively; each country has 10,000 hours of labor to allocate between the production of rice and pencils; and in autarky, Malaysia consumes 5,000 pounds of rice and 2,500 pencils. When trade occurs, the world...
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